Morgan Stanley Issues Pessimistic Forecast for Evertec (NYSE:EVTC) Stock Price

Evertec (NYSE:EVTC) had its price target dropped by equities researchers at Morgan Stanley from $34.00 to $29.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 1.24% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Evertec in a research note on Wednesday, October 8th. Zacks Research cut Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Evertec in a research note on Thursday, July 17th. They issued a “hold” rating and a $35.00 price target on the stock. Susquehanna lowered their price objective on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Evertec presently has an average rating of “Hold” and a consensus target price of $35.80.

Evertec Stock Up 0.6%

NYSE:EVTC opened at $29.36 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average price of $31.49 and a two-hundred day moving average price of $34.26. Evertec has a 1 year low of $26.72 and a 1 year high of $38.56. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.43 and a beta of 0.92.

Evertec (NYSE:EVTC) last announced its earnings results on Thursday, November 6th. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The firm had revenue of $227.93 million for the quarter, compared to the consensus estimate of $224.68 million. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. As a group, equities analysts expect that Evertec will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On Evertec

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC lifted its holdings in Evertec by 35.5% in the first quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider’s stock valued at $465,000 after buying an additional 3,330 shares during the period. Cetera Investment Advisers boosted its holdings in Evertec by 8.2% in the first quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider’s stock worth $424,000 after acquiring an additional 878 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Evertec by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 332,121 shares of the business services provider’s stock worth $12,212,000 after purchasing an additional 2,439 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Evertec by 12.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,658 shares of the business services provider’s stock valued at $796,000 after buying an additional 2,364 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Evertec during the 1st quarter valued at about $7,196,000. Institutional investors own 96.80% of the company’s stock.

Evertec Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.